PRS REIT is planning a fund raise to add six sites to its growing portfolio.
The rented family home specialist has added 243 homes to its portfolio since the end of its financial year in June, bringing the total portfolio to 4,227 completed homes with an estimated rental value of £40.3m. A further 828 homes are contracted and at varying stages of construction.
PRS has identified a further pipeline of six sites, with the potential for 670 new homes with a total ERV of £6.5m pa. Three of the sites are available for immediate acquisition, and three are scheduled to be available within the next six months.
The REIT’s board said it was exploring the most appropriate way of raising additional capital to fund the six sites, adding that a further announcement will “follow in due course”.
To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews
